Grosse Pointe Farms, MI Cost Of Living
Cost Of Living In Grosse Pointe Farms, MI Summary
Cost of living in Grosse Pointe Farms research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Grosse Pointe Farms is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Michigan, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Grosse Pointe Farms is 125, with 100 being the average.
The cost of living index in Grosse Pointe Farms is 1.2x higher than the national average.
Grosse Pointe Farms ranks as the #176 cheapest in Michigan out of 180.
Grosse Pointe Farms ranks as the #4,715 cheapest out of 6,489 in the US.
The median home value in Grosse Pointe Farms is $503,444.
The median income in Grosse Pointe Farms is $160,589.
Table Of Contents
Grosse Pointe Farms's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Grosse Pointe Farms, MI?
According to the most recent data on the cost of living, Grosse Pointe Farms has an overall cost of living index of 125, which is 1.2x higher than the national index of 100.
Compared to Michigan, Grosse Pointe Farms has a cost of living index that's 1.4x higher than Michigan's index of 90.
The standard of living in Grosse Pointe Farms ranks as #176 most affordable out of the 180 places we measured in Michigan. By definition, that implies Grosse Pointe Farms ranks as the #4 most expensive place in the Wolverine State.
For more reading on life in Grosse Pointe Farms, check out:
In Michigan
In America
Grosse Pointe Farms Cost Of Living Vs. Michigan
Six factors go into calculating the cost of living index in Grosse Pointe Farms. Here is how it fairs on each of the criteria:
The Services index in Grosse Pointe Farms is 100.
The Groceries index in Grosse Pointe Farms is 104.
The Health index in Grosse Pointe Farms is 102.
The Housing index in Grosse Pointe Farms is 176.
The Transportation index in Grosse Pointe Farms is 100.
The Utilities index in Grosse Pointe Farms is 95.
| Living Expense | Grosse Pointe Farms | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 125 | 90 | 100 | |
| Services | 100 | 93 | 100 | |
| Groceries | 104 | 97 | 100 | |
| Health | 102 | 91 | 100 | |
| Housing | 176 | 72 | 100 | |
| Transportation | 100 | 96 | 100 | |
| Utilities | 95 | 99 | 100 | |
Grosse Pointe Farms, MI Housing Cost Breakdown
Housing swings affordability the most between places in Michigan, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Grosse Pointe Farms is $503,444.
The Median Rent in Grosse Pointe Farms is $1,500.
The Median Income in Grosse Pointe Farms is $160,589.
The Home Value To Income in Grosse Pointe Farms is 3.1x.
The Rent To Monthly Income in Grosse Pointe Farms is 0.11x.
| Statistic | Grosse Pointe Farms | Michigan | United States |
|---|---|---|---|
| Median Home Value | $503,444 | $258,642 | $303,400 |
| Median Rent | $1,500 | $1,084 | $1,348 |
| Median Income | $160,589 | $71,149 | $78,538 |
| Home Value To Income | 3.1x | 3.6x | 3.9x |
| Rent To Monthly Income | 0.11x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Grosse Pointe Farms, MI Costs By Category
Detailed Grosse Pointe Farms Services Costs Vs. Michigan
| Item | Grosse Pointe Farms | Michigan |
|---|---|---|
| Shampoo | $1.13 | $1.28 |
| Movie | $12.99 | $12.13 |
| Bowling | $12.33 | $18 |
| Haircut | $16.8 | $24.26 |
| Beauty Salon | $24.78 | $45.56 |
Detailed Grosse Pointe Farms Groceries Costs Vs. Michigan
| Item | Grosse Pointe Farms | Michigan |
|---|---|---|
| Ground Beef | $5.75 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.78 | $4.67 |
| Potatoes | $4.8 | $4.93 |
| Pizza | $8.99 | $12.09 |
| Beer | $9.04 | $10.41 |
| Toothpaste | $3.66 | $3.7 |
Detailed Grosse Pointe Farms Health Costs Vs. Michigan
| Item | Grosse Pointe Farms | Michigan |
|---|---|---|
| Optometrist | $85.0 | $125.68 |
| Doctor | $103.33 | $135.78 |
| Dentist | $91.0 | $113.29 |
Detailed Grosse Pointe Farms Transportation Costs Vs. Michigan
| Item | Grosse Pointe Farms | Michigan |
|---|---|---|
| Gasoline | $3.35 | $3.46 |
| Tire Balancing | $56.0 | $59.92 |
Detailed Grosse Pointe Farms Utilities Costs Vs. Michigan
| Item | Grosse Pointe Farms | Michigan |
|---|---|---|
| All Electricity | $219.2 | $193.99 |
| Phone | $184.44 | $192.25 |
Grosse Pointe Farms SnackAbility
/10
Cost Of Living In Cities Around Grosse Pointe Farms
The cost of living varies in the cities and towns around Grosse Pointe Farms. Here's a quick look at the cost of living in the most populous nearby places:
Troy, MI has a cost of living index of 120, 1.0x Grosse Pointe Farms.
St. Clair Shores, MI has a cost of living index of 96, 0.8x Grosse Pointe Farms.
Royal Oak, MI has a cost of living index of 107, 0.9x Grosse Pointe Farms.
| City | Population | Cost Of Living | Vs. Grosse Pointe Farms |
|---|---|---|---|
| Troy, MI | 87,307 | 120 | 1.0x |
| St. Clair Shores, MI | 58,287 | 96 | 0.8x |
| Royal Oak, MI | 57,880 | 107 | 0.9x |
| Roseville, MI | 47,240 | 93 | 0.7x |
| Eastpointe, MI | 34,003 | 88 | 0.7x |
| Hamtramck, MI | 27,830 | 84 | 0.7x |
| Birmingham, MI | 21,612 | 149 | 1.2x |
| Grosse Pointe Woods, MI | 16,177 | 112 | 0.9x |
| Harper Woods, MI | 15,205 | 91 | 0.7x |
| Berkley, MI | 15,084 | 108 | 0.9x |
